Mortgage Protection Plus Insurance

A new roof over your head? Cover your home loan at the same time

A nest, a castle, a crash pad or a retreat? A new home represents something different to everyone. And for nearly all of us, it will become one of our most significant assets and a long term commitment.

Even if you are refinancing or topping up your current mortgage, there’s a fair amount of stress, involved in taking on the responsibility. Plus we all know that, sometimes the unforeseen or unexpected can happen in our lives, and it is good to have some peace of mind.

Competitive, convenient cover, backed by QBE

Mortgage Protection Plus Insurance is one of a comprehensive range of insurance solutions Geelong Bank offers through our association with QBE Insurance.

Founded in 1886, QBE is one of Australia’s leading insurers. It’s because of QBE’s experience, security and strength – as well as its prompt, efficient and friendly claims service – that we’ve made it our general insurance provider.

This partnership enables us to deliver Geelong Bank members great value and quality insurance products, with all the convenience of still keeping your finances under the same roof.

A choice of cover options

Depending on your own circumstances and dependents, you can tailor a Mortgage Protection Plus policy to provide cover for a range of situations.

Sign up now, with flexible payment options

With Geelong Bank, you can arrange both your mortgage and Mortgage Protection Plus Insurance at the same time, giving you one less thing to worry about.

For convenience you can pay by cash, cheque, credit card, or in monthly installments – whatever suits you best.

A selection of benefits

Key Features

Benefit

Main Conditions

Life Cover

In the event of your death, pays the; original balance of your mortgage OR the amount of cover selected by you as shown on the policy schedule.

Any amount remaining after paying out your mortgage is paid into your estate.

Cover available up to a maximum of $500,000
Trauma Cover Pays the amount of cover selected by you in the event of positive diagnosis of any of the listed diseases such as chronic kidney failure, heart attack, coronary artery by-pass surgery, stroke, major organ transplant and cancer. Automatic cover of $10,000. You may elect to increase cover in multiples of $5,000 up to $50,000.
Disability Cover For each day you are unable to work due to illness or injury, Disability cover will pay to your Financial Institution 1/30th of your minimum monthly repayment until you are able to return to work. Maximum payable regardless of number of claims made during the period of insurance is $200,000
Involuntary Unemployment Cover Should you involuntarily lose your job, for each day you are unemployed, Involuntary Unemployment cover will pay to your Financial Institution 1/30th of your minimum monthly repayment for up to 120 days or until you return to work, whichever occurs first. Maximum payable regardless of number of claims made during period of insurance is $15,000

Important Notes

Terms, conditions and acceptance criteria apply. Cover limits and waiting periods apply as set out in the policy wording. This material does not take into account your personal needs, objectives and financial circumstances and you should consider whether it is appropriate for you. Please read the product disclosure statement available here to decide if a product is right for you.

Insurance issued by QBE Insurance (Australia) Limited ABN 78 003 191 035 AFS Licence 239545 for Disability and Involuntary Unemployment and Integrity Life Australia Limited ABN 83 089 981 073 AFSL 245492 for Life and Trauma.

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